Sovereign Hills’ property prices continued to rise during the past financial year despite climbing interest rates and tougher lending criteria.
Based on 33 Thrumster home sales, the median four-bedroom house price increased 1.7% to $880,000, that’s $15,000 more than the 2022-2023 financial year.
The more modest rise follows four years of exponential growth for the suburb which included the pandemic-induced housing boom in regional areas.
In 2019 you could purchase a four-bedroom home in Thrumster for $573,000. Since then the median price has increased by a massive 64% and homeowners have benefited from the results.
“The bar has definitely been raised in Sovereign Hills with several home sales exceeding the $1.3 million threshold and reaching as high as $1.78 million recently - a new record for our community,” revealed Sovereign Hills Land Sales Manager Nicole Landy.
“This is a testament to the quality homes being constructed. As you drive through our beautiful community you will notice a diverse range of homes from the modest family abode to spectacular high-end designs.”
With the first residences constructed in 2012, the Sovereign Hills master planned community now includes multiple residential precincts and amenities for residents to enjoy.
“Sovereign Hills has really come into its own over the past decade. With our thriving Sovereign Place Town Centre, regional college, childcare facilities, beautiful parks and playgrounds, library kiosk, basketball courts and so much more, it’s no wonder more people are choosing to call Sovereign Hills home.”
Sovereign Hills’ fourth display village has also been announced. The region’s trusted builders are preparing to construct 14 cutting-edge single and double-storey designs with a grand opening planned for 2025.
The village will be based at the gateway to Sovereign Hills’ latest land release in the community’s Barton Ridge precinct and will become the Mid North Coast’s new destination for building information and inspiration.
“We’re excited to see these stunning new display homes take shape soon,” added Ms Landy. “Featuring the latest building products, and design and interior trends, they truly do set the standard for our community’s new homes and inspire visitors from right across the state.
“Now is the perfect time to purchase land next to these showcase homes, with 39 level and elevated lots now selling, and attracting strong interest from families and investors alike.”
For more details about our latest land release and master planned community, visit the Sovereign Hills Land Sales Centre at 14 Sovereign Drive, Port Macquarie.
